Citigroup formally launched its new hub for junior bankers in Malaga this week, kicking off a programme designed to combat brutal long hours in dealmaking. After fielding more than 3,000 applications for its new graduate scheme in the coastal city in southern Spain, which is better known for its beach resorts than its banking talent, the US bank has now hired 27 analysts from an original stated target of 30 juniors, a spokesperson confirmed.

Citi also hired two senior dealmakers for its new team focused on clean energy transition, as large investment banks increasingly compete for ESG advisory talent.